TheCable

Udoma Udo Udoma, minister of budget and national planning, says the federal government has released N460 billion as part of the funds for the implementation of the 2018 budget.

Addressing journalists on Wednesday on the sidelines of the ongoing annual meetings of the World Bank Group and International Monetary Fund in Bali, Indonesia.

“N460 billion has been released for the 2018 budget,” he said.

“The president has sent a  request to the national assembly to support borrowing for the 2018 budget. The national assembly has been on recess for more than two months, they didn’t do it before they left so now that they are back and they approve the borrowing plan, we will move quickly.”

The minister said there is a lot of good news to tell investors about investors.

“We expect that by the end of this year, we will be growing by 2.1%, things are going well in Nigeria, not as well as we want to be, we are working hard to improve things.

“We are in a stronger position than 2015. Our foreign reserves are $44 billion and we have a trading surplus whilst our imports are not increasing, we have been able to manage those imports. All the indices are positive.”